Despite the hefty price tag and limited supply, the demand for the LG Nexus 4 is still high.

One of the main reasons why the LG Nexus 4 has been as popular is because of its friendly price. Surprisingly, even with a price tag that is closer to the likes of the iPhone 5 and Samsung Galaxy S3, the LG Nexus 4 is still highly sought after.

The LG Nexus 4 has an introductory price of $299. However, prices today range from $400 to $600, which double the price of the handset and consumers are still buying.

The new Nexus 4 is a two minute video showcases that displays just what the Nexus 4 has to offer. In the video, which LG calls a product movie, we're treated to a rundown of the Nexus 4′s best features starting with Photo Sphere, one of the new features that comes with its operating system, Android 4.2 Jelly Bean.

LG also makes it clear that the Nexus 4 is powered by a quad-core processor, possesses a crisp True IPS display that functions well in outdoor lighting, 2GB of RAM that is helped by 2GB of RAM, and a vast selection of content on Google's Play Store.

LG did a great job of highlighting some of the Nexus 4′s best features and why they are going to matter potential customers looking at buying a new smartphone.

However, the unlocked version of the smartphone is out of stock in Google Play Store. Since the end of November, the Nexus 4 8GB has been sold out and more recently, the 16GB Nexus 4 sold out through Google's Play Store.

Third party retailers like online shopping sites, eBay and Amazon are currently selling the device for prices well over those in the Google Play Store leaving many potential Nexus 4 customers with a difficult choice.

One can either buy the phone at an expensive price or wait for the device to arrive in the Google Play Store, something that could take months. Both LG and Google have pointed fingers at each other in regards to the party responsible for the delay.

So far, there is no update as to when the stocks of LG Nexus 4 in Google Play Store will be replenished.